Hubert Senters here.
I want to walk you through why it’s super important to always understand the risk that you are taking in trading and to limit your amount of risk. So in this I’ve got the Ube Pro, Ultimate Breakout Pro. And you can see small little loser, small little loser, minus point seven, minus one and then here we’ve got a working trade that’s profitable at the first target.
So as you can see it says you can only trade one share. Well, that’s because I’ve got my risk set. It’s not one share. It’s one contract so I want to come in here and modify that. What I would do is I would just double left click the indicator and say hey, instead of risking only a thousand dollars maybe I want to risk $10,000.
And then at that point it will just be my calculation after it applies back on here a refreshed chart now goes oh, now I can trade eight contracts. So in this case scenario if I were to go long at $25,253 and I was okay with this risk of $2.21 as long as it’s not above three I’m okay.
And I like to keep it above two if I can. I can place an 8 Lot trade at $25,253 with a stop-loss right here at $25,006 and that would lose me if I got stopped out my $10000 if I was trading 8 lots or my thousand if I was straight. And then it’s recommended that I take, you know, some of it off here at the target one and that’s trailing the stop-loss.
So in reality in this winning example that I’m showing you here. Yes, I risk either $1,000 or $10,000 depending on how many contracts you’re going to trade but as soon as my target was hit I would peel some of that off and then my trailing stop-loss is higher than my initial entry at $253 so I’m locking in at my target one.
And then I’m also trailing my stop-loss. Very important. Number one, not the technology that is important. It is important but it’s not the most important thing. The most important thing is you know exactly how much you are going to risk per trade on every single trade so that if it does go against you you’re okay with it and you can live to fight another day.
Mark Helweg is going to be doing a special webinar on how to do proper risk to reward trades based upon his algorithm, how to trade minnow size risk and target whale size profits. That’s going to happen Wednesday, October 17th at 8PM EST. I’m going to lead you to this page. Just click this big yellow button on the page. CLAIM MY SPOT NOW and that will register you for the webinar.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
